PER-SHARE AMOUNTS

6 Months Ended

Aug. 03, 2013

PER-SHARE AMOUNTS

PER-SHARE AMOUNTS

2. PER-SHARE AMOUNTS

The following table presents a reconciliation of net loss and weighted average shares outstanding used in basic and diluted earnings (loss) per share (“EPS”) calculations for each period presented:

	THIRTEEN						TWENTY-SIX
	WEEKS ENDED						WEEKS ENDED
	August 3,			July 28,			August 3,			July 28,
	2013			2012			2013			2012
Basic Loss Per Common Share
Net loss	$	(37,329	)	$	(45,039	)	$	(63,964	)	$	(85,819	)
Less: Income allocated to participating securities	—			—			—			—
Net loss available to common shareholders	$	(37,329	)	$	(45,039	)	$	(63,964	)	$	(85,819	)
Weighted average common shares outstanding	19,154,714			18,519,973			18,998,893			18,403,684
Basic loss per common share	$	(1.95	)	$	(2.43	)	$	(3.37	)	$	(4.66	)
Diluted Loss Per Common Share
Net loss	$	(37,329	)	$	(45,039	)	$	(63,964	)	$	(85,819	)
Less: Income allocated to participating securities	—			—			—			—
Net loss available to common shareholders	$	(37,329	)	$	(45,039	)	$	(63,964	)	$	(85,819	)
Weighted average common shares outstanding	19,154,714			18,519,973			18,998,893			18,403,684
Common shares issuable - stock options	—			—			—			—
Weighted average common shares outstanding assuming dilution	19,154,714			18,519,973			18,998,893			18,403,684
Diluted loss per common share	$	(1.95	)	$	(2.43	)	$	(3.37	)	$	(4.66	)

Due to the Company’s net loss position, weighted average unvested restricted shares (participating securities) of 908,385 and 1,311,856 for the second quarter in each of 2013 and 2012, respectively, and 980,123 and 1,393,696 for the 26 weeks ended August 3, 2013 and July 28, 2012, respectively, were not considered in the calculation of net loss available to common shareholders used for both basic and diluted EPS.

In addition, weighted average stock option shares (non-participating securities) of 331,068 and 914,997 for the second quarter in each of 2013 and 2012, respectively, and 432,876 and 941,970 for the 26 weeks ended August 3, 2013 and July 28, 2012, respectively, were excluded from the calculation of diluted EPS as they would have been antidilutive.  Certain of these stock option shares were excluded solely due to the Company’s net loss position.   Had the Company reported net income for the second quarter in each of 2013 and 2012, these shares would have increased the weighted average common shares outstanding by 151,829 and 61,422, respectively, for purposes of calculating diluted EPS.  Had the Company reported net income for the 26 weeks ended August 3, 2013 and July 28, 2012, these shares would have increased the weighted average common shares outstanding by 161,203 and 77,596, respectively, for purposes of calculating diluted EPS.